State Farm Mutual Automobile Insurance Company recently sold its office facility (448,898sf) located at 8900 Amberglen Blvd. near Parmer Ln. and SH 45 in the 263-acre master-planned Amber Oaks Corporate Center. New York-based W. P. Carey Inc., a real estate investment trust (REIT), purchased the property for $110 million. The transaction includes an agreement for State Farm to lease the property back for 15 years, with two five-year renewal options.

Alamo Drafthouse Lakeline is open in a big way. The newest Alamo Theater in Austin is the largest of all the Alamo theaters anywhere. The Lakeline location in northwest Austin spans 35,900 square feet and features ten screens and a full-service bar – Glass Half Full. …Read Entire Post

In a nod to Austin’s promising economic future, Austin-based Endeavor Real Estate Group and Granite Properties plan to start construction soon on a 220,600-square foot office campus in northwest Austin — the first major office project to launch in the area in almost five years.

Apple broke ground on the first phase of its $304 million expansion project on 38.8-acre campus in Northwest Austin. The three-story office building will span 200,000 square-foot and is expected to be completed by 2015. By 2021, an additional 800,000 square feet of space is expected to be built spread out over several buildings.

VMware Inc. leased 50,000 square feet at River Place Corporate Park, 6500 River Place Blvd., for a second location. Other tenants of River Place include Motorola, ShoreTel and Edge of Reality. Headquartered in Palo Alto, Calif., VMware Inc. opened its first Austin office in 2006 and employs about 500 workers.